facebookMy insurance friend (AIA) proposed for me to get 3 policies and said it won't be in-force until I pay. I signed the applications but now I don't want them, is it ok to leave them there and not pay? - Seedly
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Anonymous

Posted on 13 Jun 2020

My insurance friend (AIA) proposed for me to get 3 policies and said it won't be in-force until I pay. I signed the applications but now I don't want them, is it ok to leave them there and not pay?

0 comments

4 answers

Discussion (4)

Yes, it is okay to leave it if the policies do not fulfil your needs. In this case, the application will be closed after a period of time.

Take note that if there is medical underwriting, then the underwriters will need to review your case all over again when you submit a fresh application next time.

In any case, I will suggest for you to review your needs and determine why the policies don't suit you, and why you signed them in the first place.

I share quality content on estate planning and financial planning here.

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Aaron Leow

Aaron Leow

Level 13. Grandmaster

Posted on 14 Jun 2020

Policies only start upon premium payment. The free-look period only applies if policies have been incepted, and that is conditional with premium payment.

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Hi anon,

If you haven't made any payment yet then there's no issue. The policy status will become n...

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